Loading
Previous Topic Previous slide Next slide Next Topic
New course

This Course has been revised!

For a more enjoyable learning experience, we recommend that you study the mobile-friendly republished version of this course.

Take me to revised course.

- or -

Continue studying this course

Contributions of large-scale organisations to the economy

  • Study Notes
  • Discuss This Topic
    Kerielle M.
    US
    Kerielle M.

    economic growth, employment , goods and services ,export , research and development,infrastructure growth, revenue , competition, community welfare ,Foster International Relation are apart of contribution of Large- scale organizations.

    John C.
    SG
    John C.

    The aim of this write up us to highlight the contributions of large scale organizations to the economy. What are the types of contributions do large scale organizations make to the economy of a country? They are economic growth, employment,export,research and development,infrastructure growth. How does large scale organization contribution to economic growth Large-scale organisations are able to produce a large amount of a wide range of goods and services. This contributes to economic growth, which is measured by gross domestic product what does Gross domestic product refer to? It is the total monetary value of all goods and service produced in a country over one year Large-scale organisations employ large numbers of people. Large businesses provide jobs for people. In an economic climate where there are lower levels of unemployment and rising incomes, people tend to spend more, which increases the overall level of spending in the economy. Businesses do well and expand as profits increase. Employment rises. The wealth generated by this process creates higher standards of living. Large-scale organisations also create employment indirectly; that is, they buy materials from suppliers and this provides employment in other businesses. In terms of overseas markets, many large-scale organisations export their products to overseas. Exporting products overseas contributes to a country's balance of payments. A favourable balance of payment exists when there are more payments coming in than going out. The balance of payment is a record of trade and financial transactions between residents of a country and residents of the rest of the world, over a given period of time. In terms of research and development, because of their size, large scale organizations have the capacity to undertake extensive research and development . R&D is undertaken in order to improve our knowledge, and then used by business to improve existing products or create new ones. Researchers doing R&D in large organizations have developed many new products. Invention and innovation are at the heart of our economy. Finding new ways to do things results in improved efficiency and increased productivity. In terms of infrastructure development, Infrastructure is a broad term that refers to installations such as roads, railways, communications systems, education and health facilities, and utility supplies. Most of these services are supplied by numerous large scale organizations. The extent and quality of the infrastructure is crucial to the performance of the economy, because it aids economic growth. Some examples of how infrastructure growth contributes to economic Transport facilities, for example, are crucial for moving people and products, and electricity, gas and water supplies are essential to manufacturing operations.

    Oratile M.
    BW
    Oratile M.

    large scale organisation will decrease unemployment rate of a country as large scale org employs large number of people.

    Alan E.
    MT
    Alan E.

    The level of employment and community dynamics may create new business opportunities for small traders in day to day life

    Alan E.
    MT
    Alan E.

    employment & community of the particular area may create new business scopes for small traders in day to day life.. am I saying wrong?

    Sourindra M.
    IN
    Sourindra M.

    employment & community of the particular area may create new business scopes for small traders in day to day life.. am I saying wrong?

  • Text Version
Notification

You have received a new notification

Click here to view them all